Confidence interval for the mean of the population

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Reference no: EM13748712

1. A sample of 144 cans of coffee showed that an average weight of 16 ounces. The standard deviation of the population is known to be 1.4 ounces.

a. Construct a 95% and 99% confidence interval for the mean of the population.

b. Discuss why CI intervals are different in part a depending on the confidence level.

2. The monthly incomes from a random sample of workers in a factory are shown below. Be aware that this is the standard deviation of the population unknown case.

Monthly Income (In $)

4000
5000
7000
4000
6000
6000
7000
9000

a. Compute the point estimate of population mean and the point estimate of the population standard deviation (in dollars)

b. Compute the margin of error (in dollars) at 95% confidence

c. Compute a 95% confidence interval for the mean of the population. Assume the population has a normal distribution. Give your answer in dollars.

Reference no: EM13748712

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